Obligated parties swooped in to purchase D6 renewable fuel 2014 Renewable Identification Numbers on Monday, which, in turn, pushed up the value of D4 biomass-based diesel RINs.
"All it takes is one aggressive buyer in a thin market to push it up," asserted a broker this morning.
RINs are used to comply with annual Renewable Fuel Standard blending mandates with D6 RINs primarily satisfied with ethanol while biodiesel is used for D4 RINs.
"A few obligated parties" were buying D6 RINs Monday, sources said, which traded at 49.7 cents, 50.5 cents, and 51.0 cents. Prices are 0.25 cents firmer early ...